MacKenzie Scott continues her philanthropy mission by launching a $250 million “open call” for community-focused nonprofits. The billionaire is looking to provide funding for organizations with a positive impact.
According to The Associated Press, Scott’s Yield Giving organization “plans to make unrestricted $1 million donations to 250 nonprofits selected in the process.” Her goal with the funding is to create a “new pathway to support for organizations making positive change in their communities.”
Yield Giving released a statement regarding the initiative. It mentions why Scott felt it was essential to give to those on the “front lines.”
“Teams on the front lines of challenges have insights no one else can offer. So there are the big headlines here in my heart: Community changemakers can nominate themselves. Community changemakers get feedback from their peers. Community changemakers have a powerful role in funding decisions.”
Nonprofits looking to apply have to meet specific financial requirements for consideration. The nonprofits “must have annual operating budgets larger than $1 million but less than $5 million for at least two of the past five years.”
This open call for nonprofit funding is a new initiative the organization offers. The outlet shared that, historically, Scott and her team used to personally contact organizations of interest to them.
A fellow nonprofit, Lever for Change, will manage the open call. The organization is an affiliate of the John D. and Catherine T. MacArthur Foundation.
AP News shared the organization would “manage the process to find community-focused organizations advancing people of modest means and groups who have met with discrimination and other systemic obstacles.”
In the news release, Cecilia Conrad, CEO of Lever for Change, shared a statement regarding the partnership.
“This open call is designed to empower and strengthen communities across the United States that are often overlooked.”
She added, “We are looking for organizations that are making a meaningful difference in people’s lives. The awards will recognize teams that demonstrate the potential to make progress toward reducing disparities in health, education, economic outcomes, and other critical issues.”
Registration for interested organizations is available on Yield Giving’s website. Organizations must register to apply before May 5 and complete applications by June 12.
Up to 1,000 finalists will be selected by peers and announced in the fall.
The website states that those “1000 finalists will then be evaluated by a publicly named panel selected for their related experience. The 250 winners will be announced in early 2024.”
According to Forbes, Scott’s estimated net worth is $26 billion.
This astronomical amount is after she shelled out $14 billion in donations to over 1,400 nonprofits since 2019.
Scott is the former wife of Amazon founder Jeff Bezos.
They divorced in 2019, and MacKenzie walked away with 25% of Amazon, equaling over $36 billion.